Qatar, Egypt PMs meet to firm up $7.5 billion investment pledge

Qatar is moving ahead with its pledge to invest $7.5 billion in the Egyptian economy.

The funds are earmarked for sectors from agriculture and real estate to tourism.

Egyptian Prime Minister Mostafa Madbouly and Qatar Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani led delegations that met on Thursday in the northern coastal city of New Alamein to accelerate implementation of the investment package and broaden economic ties, The National reports.

“Qatar’s commitment to pump $7.5 billion into the Egyptian economy has been confirmed,” Egyptian Foreign Minister Badr Abdelatty said after the meeting.

“We have… begun this process and outlined specific ventures to be announced in the coming weeks during a grand ceremony that reflects the depth of our relations,” he said.

Abu Dhabi invests $3.5 billion to become AI-native government

Abu Dhabi introduced its new Government Digital Strategy on Tuesday, allocating $3.5 billion to digitize and fully automate the emirate’s administrative processes.

The $3.5 billion project aims to make Abu Dhabi the world’s first fully AI-native government by 2027, Ahmed Al Kuttab, Chairman of the Department of Government Enablement, said in a statement.

“By incorporating AI, cloud technologies, and data-driven insights into our government’s DNA, we will transform public service delivery, optimize government operations, and drive sustainable economic growth,” Al Kuttab said.

The project is projected to add $6.5 billion to the emirate’s GDP, while creating 5,000 jobs. It is structured to align with the UAE’s broader 2031 vision, in which the country expects AI to contribute $96 billion to the economy by 2030, or 13.6% of GDP.